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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Registration was cancelled over doubts about a large NRI donation. The Tribunal held that receipt of donation alone does not constitute a specified violation without evidence of misuse or non-genuine activities.
The article analyses proposals to expand tax-free income and rationalise slabs, arguing that higher thresholds would better reflect ability to pay and promote economic justice.
Explains how agricultural income is defined under the Income Tax Act and why it is exempt under Section 10(1). Clarifies judicial safeguards and partial integration rules to prevent misuse.
Tax liability depends on days spent in India, not citizenship. Understanding ROR, RNOR, and NR status determines whether global income is taxable.
The Tribunal held that reopening beyond three years is impermissible where alleged escaped income is below ₹50 lakh. Since the notice violated Section 151, the reassessment was quashed.
The Tribunal ruled that since the assessment was legally correct when passed, invoking Section 154 after a later Supreme Court decision was impermissible. The addition was consequently deleted.
The Tribunal deleted ₹35.22 lakh added under Section 68 for cash deposits during demonetisation. It held that audited books, recorded cash sales, and sufficient cash balance fully explained the deposits.
The Tribunal held that alleged on-money addition based solely on third-party loose papers is unsustainable. In absence of independent evidence linking the assessee to unaccounted payment, the addition was deleted.
The Tribunal ruled that invoking Section 68 on member deposits of a cooperative society was unjustified. Proper books, cash records, and member-wise details were ignored by the AO.
The Tribunal upheld deletion of ₹3.67 crore added as unexplained cash credit from Singapore art exhibition sales. It held that detailed export, remittance, and bank evidence fully established the genuineness and source of funds.
